having more than the amount allowed of 50 000 for SW payments

ray...of sunshine

so what happens if you have cash of over 50k, the amount you are allowed to have before the payments you are applying for are affected I heard. And how will they be affected, are you disquallified from the payment or recieve less than the normal amount someone under 50k would recieve?

and if its a case of receiving less, how much less? and guidelines for working it out.

Also can you spend your money so that you fall below the threshold and apply again when you fall into the under 50k allowed limit again!

thanks.

tenchi-fan

If you are entitled to claim jobseekers benefit your means are not taken into account.

If you are referring to Jobseekers assistance, the first €20k isn't taken into account. However, anything over €20k and it starts affecting the amount you receive.

Here are the rules for means testing:
http://www.citizensinformation.ie/en/social_welfare/irish_social_welfare_system/means_test_for_social_welfare_payments/means_test.html#lba223

Kristopherus

Its not 50K. If you are single its 20K. Married or a couple its 40K. Some schemes are dependant on what kind of welfare you are claiming. Benefits are based on your PRSI record and are generally NOT means-tested. Allowances, on the other hand ARE ALWAYS means-tested and the limits above come into play. For the most up-to-date info have a look at www.welfare.ie.

Halo Kitty

Due a redundancy payment all going well in 9 months time....was hoping to put it in the credit union and was wondering will i have to disclose all my savings...as my payment will arrive around the same time as my JSB ends... my redundancy should be near the threshold of 20,000 (24yrs working)

AnnyHallsal

Halo Kitty wrote: »

Due a redundancy payment all going well in 9 months time....was hoping to put it in the credit union and was wondering will i have to disclose all my savings...as my payment will arrive around the same time as my JSB ends... my redundancy should be near the threshold of 20,000 (24yrs working)

You have to disclose all savings in all accounts, bank, credit union or otherwise.

ElectraX

If you have been made redundant and are applying for Job seekers benefit, your lump sum redundancy payment is taken into consideration.
If your total redundancy payment(statutory and ex-gratia) is below 50,000 euro you are entitled to Job seekers benefit straight away.
For every 5k increment over 50,000 eur that a person receives, they are disqualified from the dole for one week, with the max period being 9 weeks if they are lucky enough to have a redundancy payment of over 90k!

Granger13

Weather you are single, or married or cohabitat and in receipt of most Social payments except DA the max you can have before been assesed is €20,000.

If you are been assessed by the CWO it its €5,000.

Yes you can spend your money, but they may look to see have you deliberatley spent it to bring your means below the limit.